How much is the cost of goods sold

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The records of SURLY BAD TEMPERED Co. showed the following information:

Decrease in accounts payable 60,000

Disbursements for purchases 440,000

Increase in raw materials 100,000

Direct labor is 50% of raw materials used in production Manufacturing overhead is 20% of prime costs Increase in work-in-process inventory 40,000

Decrease in finished goods inventory 50,000

Problem 1: How much is the cost of goods sold?

Option 1: 514,000

Option 2: 464,000

Option 3: 380,000

Option 4: 546,000

Reference no: EM132805971

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